Ann: Caldeira Project Offtake MoU with Neo Performance Materials, page-50

Actually do you know the difference between Tier (1) Jurisdiction and Tier (1) Project!!!!

Tier (1) Jurisdictions shows it has known “Sovereign Risk”. As for “Ionic Clays” you find “VMS” have some Ionics. Irrespective of this, “VMS” are in “Course Sand Materials” which will make separation much easier. The strip ratios will be much better and our location in prime position.

On the other hand transport costs for “MEI” will be huge unless they can find a couple of Billion Dollars to build a processing plant. So, I wonder if the Brazilian Government will help there. I doubt it very much.

Funding is everything and luckily in Australia you have a proactive Government along with America Committed to fund REE development.

We can only hope “MEI” actually gets to mining.